Pacer Advisors Inc. Grows Stock Position in Okta, Inc. (NASDAQ:OKTA)

Pacer Advisors Inc. increased its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 162.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,103 shares of the company's stock after buying an additional 18,029 shares during the period. Pacer Advisors Inc.'s holdings in Okta were worth $2,293,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in shares of Okta in the third quarter valued at $25,000. Future Financial Wealth Managment LLC bought a new stake in Okta in the 3rd quarter valued at about $26,000. Blue Trust Inc. lifted its holdings in Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company's stock valued at $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Okta in the third quarter worth about $32,000. Finally, Modus Advisors LLC purchased a new position in shares of Okta in the fourth quarter worth about $44,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Okta

In other news, CEO Todd Mckinnon sold 233,028 shares of the firm's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brett Tighe sold 5,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $94.76, for a total transaction of $473,800.00. Following the completion of the transaction, the chief financial officer now directly owns 97,533 shares of the company's stock, valued at approximately $9,242,227.08. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 913,168 shares of company stock worth $78,420,769 in the last three months. 7.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on OKTA shares. JPMorgan Chase & Co. upgraded shares of Okta from a "neutral" rating to an "overweight" rating and set a $100.00 price objective for the company in a research note on Monday, December 16th. Scotiabank decreased their price objective on Okta from $96.00 to $94.00 and set a "sector perform" rating on the stock in a research note on Tuesday, January 21st. Wells Fargo & Company lifted their target price on Okta from $80.00 to $95.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Stifel Nicolaus increased their price target on shares of Okta from $108.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Finally, Citigroup boosted their price objective on shares of Okta from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Okta has a consensus rating of "Hold" and a consensus price target of $104.55.

Okta Trading Up 1.3 %

OKTA stock traded up $1.17 during midday trading on Tuesday, hitting $94.41. The company had a trading volume of 2,000,249 shares, compared to its average volume of 2,573,371. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $114.50. The stock has a market cap of $16.18 billion, a price-to-earnings ratio of -269.74, a PEG ratio of 9.52 and a beta of 1.03. The stock's 50 day moving average price is $84.76 and its 200 day moving average price is $81.97.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.